Nurturing dream-chasers and problem-solvers
The Qualified New Business Venture (QNBV) Program, one of several WEDC initiatives aimed at supporting startups, helps early-stage companies secure new investment and accelerate their potential for growth and job creation in Wisconsin. The QNBV Program provides mutually beneficial outcomes for investors, startups and Wisconsin’s economy. Participating businesses innovate and commercialize products in numerous industries including biotechnology, manufacturing, health technology, energy, information technology and more.
Investments to accelerate growth
From 2005 through 2016, QNBV-certified companies received a total of $465 million in qualified investment, for which investors received tax credits. A total of 375 Wisconsin-based startups have been assisted since the program’s inception, and these companies have received a total of $1.7 billion in funding. Trends indicate that the entrepreneurial ecosystem is starting to take notice of the support Wisconsin provides for startups: Annual investment levels in Wisconsin startups nearly doubled between 2011 and 2016. As Wisconsin’s startup economy gains further strength, its impact is amplified as the state attracts more capital, more entrepreneurs and more new companies.
(November 2017)
PHOTO: OMNI Solutions, a certified Qualified New Business Venture, provides innovative laundry cleaning and sanitization solutions and technologies to health care, hospitality and commercial institutions.
RELATED SUCCESS STORIES
SHINE Technologies manufactures a key isotope used in stress tests, bone scans and several other medical procedures to help assess a potential fracture or other serious conditions such as heart disease or cancer. Manufacturing in Wisconsin means that there will be a ready supply of the isotope for markets across North America, overcoming today’s supply chain issues and challenges that come with overseas production.
